Patient Monitoring Devices Market 2024: Business Strategies for Excellent Growth, Highest Revenue, Booming Growth Opportunities

The report “Patient Monitoring Devices Market by Product (EEG, MEG, TCD, Pulse Oximeter, Spirometer, Fetal Monitor, Temperature Monitor, MCOT, ECG, ICP, ILRs, Multi-parameter Monitoring, Weight Monitoring), End-User (Hospital, ASCs) – Global Forecast to 2027″, is projected to reach USD 65.4 billion by 2027 from USD 42.3 billion in 2022, at a CAGR of 9.1% during the forecast period.

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The evolution of the market is primarily driven by the rising number of hospitals across major markets, growing cognizance about vital parameter monitoring for treatment and analysis of chronic diseases coupled with the growing adoption of wireless and wearable patient monitoring devices for homecare.

Based on the product, the patient monitoring devices market is segmented into hemodynamic/pressure monitoring devices, multiparameter monitoring devices, neuromonitoring devices, fetal and neonatal monitoring devices, blood glucose monitoring systems, weight monitoring devices, respiratory monitoring devices, temperature monitoring devices, cardiac monitoring devices, and other patient monitoring devices. The cardiac monitoring devices products segment is further classified into smart/wearable ECG monitors, event monitors, ECG devices, mobile cardiac telemetry (MCT) monitors, and implantable loop recorders (ILRs).

The hospital end user segment is expected to indicate the highest growth rate during the forecast period.

Based on end users, the patient monitoring devices market has been segmented into hospitals, ambulatory surgery centers, home care settings and  other end users,. Dominant market position of the hospitals segmentcan be  be credited to the presence of well equiped emergency wards and ICUs in hospitals and the rising number of surgeries.

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North America is likely to lead the global patient monitoring devices market

North America, encompassing the US and Canada, reported for the major split of the patient monitoring devices market. An growing quantity of clinical trials verifying patient monitoring devices and a rising amount of approvals for patient monitoring. Are the major factors driving market growth in North America. Customers in North America are shifting towards homecare patient monitoring, that requires non-invasive patient monitoring devices. This trend will have a definite impact on the patient monitoring devices market.

Key Market Players

Abbott Laboratories (US), HILL-ROM HOLDINGS, INC. (US), Drägerwerk AG & Co. KGaA (Germany), Edwards Lifesciences Corporation (US), OMRON Corporation (Japan), Masimo Corporation (US), Compumedics Limited (Australia), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Nihon Kohden Corporation (Japan), Natus Medical (US), Medtronic plc (Ireland), Koninklijke Philips N.V. (Netherlands), GE Healthcare (US), Getinge AB (Sweden), Boston Scientific Corporation (US), Dexcom, Inc. (US), Nonin (US), BIOTRONIK (Germany), SCHILLER (Switzerland), and BioTelemetry, Inc. (the US), among others are some of the major players operating in the global patient monitoring devices market.

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